| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 35th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3110 Kelly Austin Dr, Raleigh, NC, 27610, US |
| Region / Metro | Raleigh |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3110 Kelly Austin Dr Raleigh 24-Unit Multifamily
2007-vintage units in an inner-suburban Raleigh neighborhood with above-median occupancy provide a practical entry to stable renter demand, according to WDSuite’s CRE market data.
This Inner Suburb neighborhood earns a B- rating and ranks 165 out of 331 Raleigh-Cary neighborhoods, placing it around the metro median. For investors, the key signal is renter demand: neighborhood occupancy is 93.9% (measured for the neighborhood, not the property) with a rank of 154 out of 331, indicating above metro median stability based on CRE market data from WDSuite.
Livability is supported by everyday amenities: grocery and park access rank 69 and 79 out of 331, respectively — top quartile among Raleigh-Cary neighborhoods — and pharmacies are competitive as well (93 of 331). Café density is limited (ranked 331 of 331), so lifestyle appeal skews toward practical convenience over boutique retail. The average neighborhood construction year is 1988; the subject’s 2007 vintage is newer than the local norm, which can improve leasing competitiveness versus older stock while still warranting routine system updates over the hold.
Tenure data indicates a renter-occupied share in the low-40% range at the neighborhood level, signaling a substantial tenant base for multifamily while retaining some exposure to ownership alternatives. Neighborhood rent levels track above national medians (70th percentile) with a rent-to-income profile near one-fifth, which supports pricing power but still calls for ongoing attention to renewal strategy and retention risk.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, with forecasts pointing to further renter pool expansion and smaller average household sizes. These trends generally support occupancy stability and consistent leasing velocity for well-maintained assets, according to WDSuite’s commercial real estate analysis.
Safety indicators trail national benchmarks. The neighborhood s overall crime rank is 202 out of 331 within the Raleigh-Cary metro, which is below the metro median. Nationally, the area sits in lower percentiles for both violent and property offenses, so prudent underwriting for security, lighting, and insurance is warranted.
There is a constructive note: neighborhood property offense estimates have improved year over year (declining roughly in the high single digits), suggesting incremental progress. Investors should evaluate recent, street-level trends and management practices rather than relying solely on historical statistics.
Nearby employment nodes feature insurance, advanced manufacturing training, pharmaceutical distribution, and clinical research — a mix that supports workforce housing demand and commute convenience for renters.
- MetLife — insurance (12.6 miles)
- Erie Insurance Group — insurance (13.0 miles)
- John Deere Morrisville Training Center — manufacturing training (14.1 miles)
- Amerisource Bergen — pharmaceutical distribution (14.2 miles)
- Quintiles Transnational Holdings — clinical research (15.8 miles) — HQ
The 2007 construction offers a competitive edge versus the neighborhood 27s older stock (average 1988), helping the asset position against deferred-maintenance peers while still planning for mid-life system updates. Neighborhood occupancy is above the metro median and the renter-occupied share sits in the low-40% range, supporting a dependable tenant base and steady renewal pipeline. Population and household growth within a 3-mile radius point to renter pool expansion that should sustain leasing momentum.
Ownership costs in the area are moderate in regional context, which can create some competition from entry-level for-sale options; however, rent levels trend above national medians while rent-to-income remains manageable, reinforcing viable pricing power with thoughtful lease management. According to CRE market data from WDSuite, amenity access favors daily needs over boutique offerings, suggesting demand durability for workforce-oriented product.
- 2007 vintage competes well against older neighborhood stock, with clear value in modernization and preventative capex planning.
- Above-median neighborhood occupancy and a sizable renter base support leasing stability.
- 3-mile radius shows population and household growth, expanding the renter pool and supporting demand.
- Everyday amenities (grocery, parks, pharmacies) are strong locally, aligning with workforce housing needs.
- Risks: below-metro-average safety metrics and some competition from ownership options — underwrite security, insurance, and renewals accordingly.